Currencies’ fair value a matter of debate

What’s the fair value of a euro? That depends on whether the answer comes from Berlin or Paris. German Chancellor Angela Merkel on Wednesday weighed in on what the currency should be worth, saying the euro’s exchange rate is “normal in the historical context.” French Finance Minister Pierre Moscovici had a different take earlier this month, calling the euro “perhaps too strong”.
Economists say Ms. Merkel is right—technically. The euro’s buying power is roughly where it should be, according to the Peterson Institute for International Economics, which judges currencies based on countries’ current-account balance…………………………………….Full Article: Source